登海种业(002041) - 2019 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2019 was ¥136,172,195.41, a decrease of 2.29% compared to ¥139,365,819.83 in the same period last year[9]. - Net profit attributable to shareholders was ¥4,711,523.12, down 75.82% from ¥19,488,633.26 year-on-year[9]. - The net profit after deducting non-recurring gains and losses was ¥3,170,511.20, representing an 81.45% decline from ¥17,091,757.76 in the previous year[9]. - The basic earnings per share decreased by 75.57% to ¥0.0054 from ¥0.0221 in the same period last year[9]. - Operating profit, net profit, and net profit attributable to shareholders decreased by 216.92%, 209.81%, and 75.82% respectively, mainly due to increased losses from subsidiaries[22]. - The company reported a net profit of -12,922,706.83 yuan for the current period, compared to a net profit of 11,768,008.29 yuan in the previous period, indicating a significant decline[58]. - Operating revenue for the current period was 60,805,219.20 yuan, down from 62,328,482.01 yuan in the previous period, reflecting a decrease of approximately 2.4%[59]. - The company's operating profit was -13,103,977.64 yuan, compared to an operating profit of 11,207,581.42 yuan in the previous period, showing a substantial loss[58]. - The total profit for the current period was -12,918,110.72 yuan, compared to 11,815,772.34 yuan in the previous period, marking a significant downturn[58]. - The total comprehensive income attributable to the parent company was 4,711,523.12 yuan, compared to 19,488,633.26 yuan in the previous period, reflecting a decline[58]. Assets and Liabilities - The total assets at the end of the reporting period were ¥3,606,627,493.57, a decrease of 4.04% from ¥3,758,477,180.81 at the end of the previous year[9]. - The total assets as of March 31, 2019, were CNY 2,801,915,587.28, compared to CNY 2,721,187,938.59 at the end of 2018, indicating an increase of 2.96%[51]. - The company's total liabilities decreased to CNY 236,114,515.67 from CNY 262,973,403.20, a reduction of 10.26%[48]. - Total liabilities were reported at ¥493,795,800.63, with current liabilities totaling ¥452,273,243.41[84]. - The total current liabilities included accounts payable and notes payable of ¥21,347,924.98[84]. Cash Flow - The net cash flow from operating activities was negative at -¥43,245,978.58, an improvement from -¥173,019,709.95 in the same period last year[9]. - Cash flow from operating activities showed a net outflow decrease of 129,773,731.37 yuan compared to the same period last year, attributed to reduced payments for seed production[22]. - The company generated cash flow from operating activities of 74,487,195.85 yuan, compared to 59,219,472.15 yuan in the previous period, showing an increase in cash inflow[66]. - Operating cash inflows totaled $81,784,346.37, an increase from $64,120,763.76 in the previous period[69]. - Operating cash outflows amounted to $125,030,324.95, down from $237,140,473.71 in the previous period[69]. - Net cash flow from operating activities was -$43,245,978.58, improving from -$173,019,709.95 in the previous period[69]. Research and Development - Research and development expenses grew by 106.46% year-on-year, reflecting the company's commitment to enhancing research and reserve of new breeding technologies[21]. - Research and development expenses rose significantly to CNY 17,231,010.41, an increase of 106.66% compared to CNY 8,345,924.05 in Q1 2018[52]. - The company’s research and development expenses were 2,262,630.38 yuan, a decrease from 3,511,647.66 yuan in the previous period, indicating a reduction in R&D investment[59]. Shareholder Information - The top shareholder, Laizhou Agricultural Science Institute, holds 53.21% of the shares, with a total of 468,223,255 shares[12]. - The net assets attributable to shareholders increased slightly by 0.17% to ¥2,796,840,524.75 from ¥2,792,129,001.63 at the end of the previous year[9]. - The total equity attributable to shareholders of the parent company was CNY 2,796,840,524.75, up from CNY 2,792,129,001.63, reflecting a slight increase of 0.17%[41]. Other Financial Metrics - The company received government subsidies amounting to ¥2,414,998.77 during the reporting period[9]. - Accounts receivable increased by 72.21% compared to the beginning of the period, mainly due to increased credit support for reputable distributors within the rebate limit[21]. - Asset impairment losses surged by 329.45% year-on-year, primarily due to a significant increase in accounts receivable and higher provisions for bad debts and inventory write-downs[21]. - Other equity investments increased by 100% compared to the beginning of the period, as a result of reclassifying available-for-sale financial assets[21]. - The company completed the deregistration of its subsidiary, Ningxia Denghai Wanlian Seed Industry Co., Ltd., as approved by the board meeting[23]. - Eleven new corn varieties and one new wheat variety developed by the company have been approved by the National Crop Variety Approval Committee, supporting sustainable development[23].